WISE Certification Study Guide – Complete Questions with All Correct Answers

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If a fire happens to someone's house, what type of insurance will pay for the damage most lik
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ely? - correct answer-Home insurance b bb b b




If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock?
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- correct answer-Price of stock increases
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Why is a stock characterized as a "growth" stock? - correct answer-
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The corporation is expected to increase significantly in revenues and earnings.
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An example of a long-term investment is: - correct answer-Investing in mutual funds
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A person is using a $25 gift card for the first time. The balance left to use on the card is now $23
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. What is the reason for the reduced available amount? - correct answer-Inactivity fee
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T/F....Debit card puchases should be recorded in a checkbook register. - correct answer- b b b b b b b b b b bb b




True

Why does the government tax cigarettes? - correct answer-
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Increase revenue and stop people from smoking b b b b b b




Roy Williams has $1,000 to invest. He is thinking that interest rates or rates of return will incre
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ase during the year. What should he buy? - correct answer-
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He should buy a certificate of deposit that is will mature either in 3 months, 6 months or a year.
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When buying stock, what should you be aware of? - correct answer- b b b b b b b b b bb b




if the price of the stock will go up or down.
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Why would people be warned against taking payday loans? - correct answer-
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People get trapped into re-borrowing over and over again. b b b b b b b b




What should be included when writing a will? - correct answer-Beneficiaries
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What is a benefit of paying bills automatically from a bank account? - correct answer-
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Bills are paid on time b b b b




What is the purpose of renters insurance? - correct answer-Protect property
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As it relates to a budget, what is a surplus? - correct answer-
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Money that is left over once all expenses are budgeted. b b b b b b b b b